tv MONEY With Melissa Francis FOX Business November 14, 2013 12:00am-1:01am EST
hickory farms cheese baskets can you imagine giving sandra smith that? futures theyp after her earlier comments. liz: stay tuned. "money" with -- melissa: it is the big money story everyone is talking about today. you are either going to start taking cholesterol-lowering drugs or paying for someone in your network to. more people, more pills, it means more of your money. because at the end of the day it is always about money. melissa: well, if you didn't have high cholesterol yesterday, you might now. your doctor's opinion could have changed overnight and it has got nothing to do with that bacon, egg and cheese you had for breakfast. new guidelines by the american heart association are going to get you started paying for
pills, even if you didn't think you needed them. here with the details with dr. lee vinokur and pharmaceutical expert, shane. doctor, let me start with you. what is the reasoning behind this? >> well because in the past everybody talked about knowing your numbers and while it's important, that's not the endgame or the goal. the goal is to prevent heart attacks, prevent deaths from heart disease. it is still the number one killer for wen and men today and it isn't just a number. and what they're finding, even though they're recommending, maybe more pills for a wider range of people, it is actually more holistic in a sense because it looks at more things. it looks at blood pressure. looks at sex. it looks at race. it looks at exercise and diet. there was a group of people, for instance the new recommendation between 40 and 75 and have type 2 diabetes because these drugs, statins, they do lower cholesterol but they also can
lower triglycerides. they are antiinflammatory. melissa: right. >> in an essence it is more of a holistic approach. we're not just looking at the number and lowering the number. you're trying to decrease the prevalence of the disease and complications. >> i'm looking at one number in particular, speaking of numbers, 30 sick million patients under the old guidelines. now 72 million americans. shane, that will be a lot of money for the drug companies? >> it is very interesting when you take a look at the health care sector right now. just in 2010 they spent 440 billion on heart disease. so these numbers are staggering. some of these drugs, i think tufts university and eli lilly had done a research report and they said an estimate of about a billion dollars just to make one of these drugs. then if we take a look recently with the obama administration, we have noticed that they're going after the big pharmas as far as medical devices and some of those drugs.
those costs will pile up. melissa: so what does that mean? what's your implication there? >> what it means the costs will continue to skyrocket, and you've got baby boomers retiring at 10,000 a day. melissa: the cost and revenues to the company. lee, it bothers me that the "boston globe" that half the 15 people on the panel have decided, have financial tieses to statin companies, two drug companies. they had a dog in this fight as they were saying, more people should take these drugs. that bothers me. >> well, first of all the issue, it is not going to be such a windfall for big pharma because a majority of these statins, like lipitor, they're off patent. melissa: hang on. crestor is not. it was the most prescribed drug in the past year. >> right. melissa: 23.7 million pills sold. $5.3 billion for this company. it's very popular. it is on patent until 2016. >> but nobody is saying you have to take a particular drug. they're saying a statin.
there are a lot of generic statins on board. and there are some combination drugs that from prior studies we knew really didn't help stop disease progression. so they were the enhancer drugs. and so, you know, statins do things more than lower cholesterol. it is an approach that's looking at the whole person. and it isn't just a pill. that's not, that's not the main part of these recommendations this is just one part. but the key is, you shouldn't just, the prize is not the lower cholesterol. the prize is decreasing heart disease, less death from heart disease. so you know, the key is, you need to look at everything. diet and exercise were a big part of it. >> shane, you know, what does this mean overall in the insurance industry? so you have more people that are going to be on more pills. more pills means more dollars to me, even if a lot of them are off patent and are cheaper month. it means more people in my
insurance pool will be getting more prescriptions. don't health care costs go up? >> absolutely. costs are skyrocketing. just to give you an example, we have small businesses that we do some basically health care planning for. they're getting calls where premiums are jumping up anywhere from 50%, as high as 90% across the board. they have already moved up the last two years at those levels. if that continues you can just imagine there will be a little bit of chaos as far as costs. >> i guess, dr. vinokur, the other side of the argument, health care costs go down and giving people pills and stopping them from having heart disease. >> exactly. if you're looking at the cost of a generic drug and looking long term preventing heart attack which lead to heart failure, one of the most expensive diagnoses around, if you can prevent heart damage and heart attack in the long run and we're not saying it is just the pill. you have to exercise. melissa: you're not saying that but that, hang on stop you. you're not saying that but that is what a lot of people you give
them a pill. that's it. i'm covered. i will still eat the other thing. isn't there danger putting more people on a pill every other day they take actually worse cares of themselves? >> that is part of the problem and that's why they said it isn't just a number. you can't just look we'll lower the number. there were a lot of people where the number wasn't the whole picture. people that have diabetes. they have other issues. there is damage to the blood west develop from other issues. statins can decrease inflammation and damage to the blood vessel which in the long run will contribute to decreasing the risk of heart attack from that so it's a balance. definitely nobody is saying that, you know, you can just take the pill and forget about it. these guidelines didn't say that either. everybody kind of focused own the pill. melissa: all right. thanks to both of you. i appreciate it. the spin is on now that the
obamacare numbers are out, just 2thousand. that is the number of -- 20 seven thousand. that is the number of americans that selected health plans on federal website. if you include the state exchanges the number grows to 106,000. that is far lower than the 500,000 that was predicted. health and human services secretary kathleen sebelius just addressed this. fox business's rich edson is in washington sorting this all out. rich, what is the reaction? >> it is predictable from republicans and democrats, at least there is interest. 27 million people according to health and human services logged on to the website but only 106,000 managed to complete applications. we don't know if the applications went all the way tip surers and we don't know how many are young, healthy people that are needed to make the system work and pay premiums. 106,000 you mentioned. only 27 of those 106,000 come from the federal exchanges.
rest come from the state exchanges. 975,000 made it through the application process but did not select a insurance plan. the republicans say they're inflated. they're using amazon analogy. a number of people may have put them in shopping carts online but not necessarily went through and paid for them this is from the ways and means committee chairman dave camp, these early enrollment numbers are inflated to include those just shopping for the plan. even if this was an accurate picture, the administration would have to enroll 68,000 people a day to meet the year-end goal. the administration was saying they expect low enrollment numbers and expect them to pick up over time. the problems with the website created slower enrollments. they say that will pop, when the website, they say will be working at the end of this month. melissa. melissa: how about that? what is the inside bet on the website being ready by the end of the month or being completely working? >> we had a hearing on capitol hill hill today about that topic
and administration said by november 30th, the vast majority of people who want to sign on will be able to do so by the end of this month. the problem though is when you drill down a number of lawmakers did, with administration officials today, saying can you promise that it will be functioning by november 30th. they couched it by saying we are on track to be ready by november 30th. we expect it will be, but they couldn't promise it will be actually up and running and fully functional for the vast majority of people which is also a caveat itself by the end of the month. melissa: right of the lots of caveats in there. rich edson, thanks so much. would you rather work for a man or a woman? a new study shows the majority of americans say they want a male boss but why? we have a money talker panel all fired up for this one. if you believe everything you read on web md, then listen up. the website has a deal with the government, to get paid for promoting obamacare. we've got the details. don't move. more "money" coming up.
for! melissa: wow, that is what you call a good boss? new numbers show the majority of americans would still rather work for a don draper than a liz lemon of the would you rather work for a man or a woman? today's money talker panel is ready to jump in on this one. we've got lifestyle coach. celebrity journalist, david kaplan and our very own dennis kneale. more people would rather work for a man or woman, do you believe that? >> this is a great news story for women. melissa: it is? >> if you look at numbers in 1953, 5% of people wanted to work for a woman. now the numbers are 63% are very happy working for a woman. makes me wonder about the 37% of the people? are they still useing a typewriter. melissa: dennis, what are you scribbling over there? >> taking furious notes. we would declare which you work for, man or woman. is a man that which would you rather work for man or woman? >> myself, i'm an entrepreneur. melissa: making you choose.
>> i will say a woman. future is woman. 57% of college graduates are women. in the future whether you like it or not you're working for woman. >> basically rather work for a woman that is what you're doing anyway, but you work for self. got you. boxes here at fox business know i hate idea of a boss at all. i don't want a man or a woman. overall i would prefer women because men, they're so hormonal. they just go crazy on you. men if you challenge them they see it as direct challenge to their authority and man versus man. they want to fight. i think women are less threatened by disagreement. >> i think men are less emotional than women. i've had really intense bosses. >> wait, wait. men are less emotional then women? >> i think men are less emotional than women in the work place. mostly in to you. i worked for really high-profile, like bosses. that is why i love the segment. harvey levin from "tmz." he is a character out there.
but still, bang, bang, direct. melissa: putting hi category. >> putting him in the man category. he may be watching if i want to work for him again. men are much more emotional. i worked for high powered women too. there is more drama and baggage. melissa: she how she turned what you said into insult. women are in touch with their emotions. melissa: you kind of brush it off. i wanted to make sure you felt the sting of tha >> i don't think necessarily brush -- male boss i have, still have emotions and still there not as out there. may not be as many jobs. >> i think you did from the 1950s movie. >> no. one of my last bosses was like jon hamm from "mad men." melissa: how did you enjoy that. >> it was fun an comical. even works in the same building where "mad men" was set. if you know, it is a different thing. if i was a man, get a bit more open nerve ability. >> your evidence is quite anecdotal. >> i'm old school. >> i wked for a couple
hollywood bosses most male who are completely insane. just about personality. really about personality. not about gender. >> even more than that i think it is about smarts. i want to work for a boss who is smart. nothing worse than a working as i did, many, many years ago at several other companies that for bosses who were nowhere near as smart as you are. melissa: i have to say, the first woman that worked for fired me. so right out of the gate. i have a bias against working for women. right there, but why do you think it is that some americans, when it is split down you ask them, 35% say they would prefer a female boss, a male boss. 223%, only 23% say they prefer fee mayes. you guys aren't representing majority or -- >> i think we're a matriarchal society. we instill as a people more authority in male figure than female figure. >> it is not trending in that direction. if you look at numbers, it is really trending in the female
direction. in fact -- more than half of people who have worked for a woman would prefer to work for another woman. melissa: let me ask youhis, marisa mayer, gets a ton of attention as high-profile female bosses a lot of things she does ruffle people's feathers, saying you can't work at home anymore. seems pretty obvious to me. we talked about this before, people at home, i'm not sure they're working at home. she wants them in the office. would a man have gotten as much attention and heat an ruffled as many feathers saying that. >> of course not. she, bottom line was making a direct important decision at the time for yahoo! melissa: was that very masculine of her to be direct? you might say that. >> i think that would be perceived having a masculine strain. reportedly i think it is perceived as masculine strain. >> it is leadership trait. we need to talk about leadership traits. when you look at men and women the best leaders have same quality.
women have more of a three dimensional quality to them that might make them a better boss. melissa: what you do i think, dennis. >> i think what samantha said is entirely right. melissa: are you buttering her up? feels like you're buttering up. >> do not objectify her and referred to her as thanks giving turkey. >> i think dennis referred you to as thanks giving turkey. >> i have very selective hearing. >> we're more comfortable with the way things always worked. no one likes change. female bosses are -- >> you use a blackberry? i don't think you're using an iphone, dennis? melissa: do you think people are more comfortable with same sex boss or opposite sex boss and does that play into this? i mean are you more comfortable working for a woman because you are a woman and you feel like you can relate? >> i have had great bosses who are men and great boss who are women. it is about personality. >> are woman bosses tougher on female employees than male
employees? see more competition. being a boss and you will try to take my job. are they tougher -- melissa: you will get a lot of hate twitter for that. >> insecure people are always going feel threatened. >> i run into a lot because i'm so up secure. melissa: you guys were fabulous. you will continue this in the future. ank you. before you blindly believe whatever you read on web md know this, the company is getting paid to help inform people, inform people on obamacare but it didn't disclose the deal to the public. wait until you hear how much money is behind it all. if you want the real deal on real estate then you are in the right place. we have an exclusive interview with a real estate mogul. we're getting tips from a titan. stay right where you
melissa: it is no secret the administration is having a hard time pushing its health care program but a new report said it paid millions to have a private website push it for them. according to "the washington times", web md, the private website that provides health and drug information to millions of users was paid $4.8 million to promote obamacare yet it didn't feel the need to disclose this to the public. economist peter morici is outraged about all this. peter what do you think? >> the government paid exorbitant sums of money for the work it got down. for example, $127,000 for a 5-thousand word piece. i've seen prices like that in the private sector but the government doesn't pay those kind of prices. only time when you see those prices enormously expertise and government overpaid which causes appearance of some sort of corrupt behavior. melissa: that is really the
question, is what were they paying for? you mentioned the 127,000. another example was about $68,000 for a four-minute video from an opinion specialist. it doesn't say on what topic. 140,000 for an eight-question online quiz. the problem comes in, at the same time they were receiving this money on one side, to do whatever this work is, they were also writing things, you know, seven surprising things about obamacare that were really positive. ways to navigate the website. now they're making the argument that our editorial group is a completely separate part of the organization and groups that work on sponsored programs. they're saying, peter, that these things are separate. do you buy that? >> no, i don't. they may try to make them separate but like old story of gold map saks. selling bonds to investors out of one door and a different department according to blankfein shorting those bond, you know, on another side. that is obviously not in the investor's interests for that to
be going on but yet they did it. similarly here, if they had been transparent, laid out what they did, then people could evaluate and take information for what it was and probably would not have affected read of these articles. you have to have passwords to get the paid-for content so the general public down know about it. health and human services should been abe to do some of these things for themselves. consider who they are. the very fact they had to pay these sums of money indicates they don't have adequate capacity over at health and human services to be running this program. melissa: you know, that is interesting you say they should have disclosed this. would disclosure been enough? in the goldman sachs comparison you made which is really valid it was reasonable enough to a lot of us in the industry they were making a market and had buyers and sellers on one side and shorting on the other. that is the argument they made. in the end it didn't hold water
and they got in trouble. do you think disclosure saying something on one side and doing separate on another would that be enough? >> if they revealed the fact they were doing mon work for health and human services on the program, my feeling that should be enough. it raises broader questions for we md. melissa: it does. >> you go there for a blood pressure medicine, there are people that have to take it, there are people should never take it and there is the gray area where your doctor navigates. how do they interpret the gray area for melissa at the same time they're running ad for blood pressure medication. this indicates that they don't really have a good grasp of what they need to tell the public about where their money comes from, if the public is to trust them. melissa: no, absolutely. undermines a big chunk of their business. a lot of people talk about this saying i go to web. md i get you know biased advice and ask them questions and they're accepting money from people for different things and
it is blurrier than i thought. peter, thank you very much. >> take care. melissa: exclusive with real estate titan don peoples. his prediction where real estate is going and what not to buy. "who made money today." his company beat the street today big-time. find out who it is. "piles of money" straight ahead.
melissa: you want to the real deal on real estate? one of their preeminent goals of the market is here to share his tips. with some very surprising suggestions on where to buy and where not to. of dawn, kiefer joining us. what is your favorite market right now? >> york city there is a limited supply with limited inventory and global demand
but seconds to miami. melissa: they experienced lots of dust and 60 minutes and did a story that makes me afraid of the city. >> if you look like new york city manhattan and miami beach barrier island no real available the end with a very, very strong market no more new inventory comes out and downtown miami is emerging as a global city over the past 15 years has taken its place as a global keyways city so we watch any emerging city or even urging market assumed a place and that is the difference. melissa: chicago and detroit and boston? >> it is a broad economy with a focus on downtown urban development and the
residents are moving into downtown. said you have the migration all of urban core. melissa: in detroit because things are so depressed? >> their problem a city of 2 million people it is hard to imagine the fifth year 60 yearssago it was the most important city in the united states it was one industry banal finally because of absolute chaos they are a more broader economy than ther will be greater opportunity and real-estate is so cheap downtown becomes more exciting for those who work in the suburbs actually commute to live downtown. melissa: you would avoid austin, texas? oh lot of the texas dallas and houston? >>. >> they have a great tax policy but it is very
focused and one dimensionally economy. educational and technological driven than look it is always a boom and bust. it is exciting and now with growth it is not a stable market and not a global scale way market. buyers picked up the slack because they see us as being cheap. melissa: you don't like cn francisco? it reminds me of manhattan. >> i like san francisco but we lost money because of the regulatory process is so cumbersome it takes almost a lifetime to get anything built until they become more business friendly combined with tax policies once you struggle to make many then you have to give a big chunk of the back. melissa: very practical. under the radar opportunities? affordable housing?
>> we have a newer administration coming in to the york city they have made it clear the big focus will be affordable housing. melissa: there isn't isn't that a joke? >> but what makes it such an exciting place is the diversity economically where people who work here and contribute can live here that is by incentivizing development of affordable housing. i see this administration doing that also in miami. there is no limit to that demand. melissa: you are more invested in affordable housing and the huge high-rises? we all hear about the high end is where it is at the three-year 5 million the big development that is where
you really make money. >> i do disagree with a range. the high end in the your city is about 10 or 15 million or more there are only so many people on the planet that can afford to live there. people are struggling in the financial-services industry there the three or $5 million buyers. melissa: that is not good because that is where wall street could afford to buy but the bonuses are cut. >> i like the global market thinned the idea of affordable housing that is underserved to mix the tear to create communities that are more reflective of the culture. melissa: we were talking about those enormous building this. >> new york city has the demand that the one place is more difficult is the
upscale with pretty much anything downtown or tribeca doing exceptionally well because they see a migration there is more flavor and excitement and cultural diversity. >> there is a for-profit school and there are more around the country. melissa: what is the biggest mistake in real-estate? >> betting that the market will continue to escalate as it does right now. you have to look like being in a swimming pool with the inflatable doll holding it down under water that is what the economy has done so now the ball comes out and reaches back and pops up but does not stay for ever. look at the market that way would is a reasonable basis
of appreciation from time right before the recession to where we should be down? melissa: how do you invest on that? to be that sounds like i should avoid it. but i should not buy that? >> you should because prices will keep going up. people want to live in new york city. it is great people love manhattan so they will pay a reasonable pace but housing prices can i increase greater than the compensation of those who are the customers. so the $10,000 per square foot building is the global e the but the rules apply dealing with the market or the actual consumer is a u.s. resident it will cause some correlation. melissa: you were fabulous.
>> i love being on hear. melissa: from every corner of the globe money is flying around the world first to ireland after 34 years stepping down the manager is set to begin talks with live nation. he could retire in style he is to be paid 20 percent of you to earnings there is a whisper that manage -- madonna's manager will takeover. >> the ping star the largest diamond went up for auction in geneva the 56 karen stone was estimated to get $60 million but it's extraordinary size and color our unparalleled. landing back here in america where one world trade center officials has been declared
the tallest building in the united states 408 footed needle at the top experts were debating if it should count to the heighth of the building but in the end committee of architects say yes in the landmark prevailed. making money off the edge of the apocalypse those buying into the end of the world are rolling in dough. maybe now is your time to get an. it is all about money.ñ@ç@çpçp
melissa: the walking dead take on wall street with the arabs on the apocalypse portfolio has tripled since the series hit the air. maybe it is also assigned you should be taking a bite. and here we have hedge fund manager jonathan honig. i was blown away the portfolio is up 230%? is there something to this? >> a rising tide lifts all boats and we are in a bull market. melissa: let me stop you and this chart is way out is -- outpacing the s&p 500 not just in general but there is something to this. >> you cannot discount the fact the stocks are doing
particularly well but not so much because of zombies' but of government to of the big components happen to be done makers like smith and wesson they have done well not just because of zombies' but the second amendment regulation but also of the retail stocks like cabellas or dnc. melissa: pick it apart. solar city is up year today is that right days that either on musk wave would you avoid that like a zombie? >> i would avoid not just because it is over extended but it is fundamentally based on the inferior technology although the
trend is higher for solar city but what we have seen even bad stocks can go higher expenses stocks can get more expensive the trend is your friend so that remains higher. melissa: what about cabellas? you like that? >> i do it is good. we had a sense of the consumer being dead. nodded all look at names like costco but cabellas also or pnc continues to do quite well as the economy strengthens it looks like you will see the fed raise interest rates but the consumer stock does well. melissa: you mentioned smith and wesson if you will help
to ward off the zombies. i don't understand. but smith and wesson is up this year. although some say now is the time to short because tre was o'brien with the a.d. everybody in washington was anti-gun your rights would be infringed now be will see the bounceback? is that over? >> chronically the fact that they showed the gun manufacturers is a good indication they will go up. short-sellers are a bullish influence because the higher it goes the more they need to repurchase those shares going short it is even more of a bullish argument so just with the executive
branch putting the second amendment on trial i think that will be higher. melissa: are you worried about zombies in general? have you done whatever you need to do? i have not. i have not been up on this is. >> i think a healthy portfolio can ward off any zombie's pretty effectively. it is not so much what you invest but how you invest in this so don't worry about making a mistake that is where they go wrong. melissa: and a serious answer has if you ever wanted to buy a a meeting a new company has formalized the idea of celebrities as products. who is for sale now?
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to a hundred grand. quarterback camp with montana three hour coaching session up to six people. how do they agree to do this? why bund joe montana be willing to do this? >> most of that a list do it for their charities are causes a and they are very fell -- philanthropic. melissa: how do you come up with these ideas? >> we talked to finance what is your passion? we call the company is only because if you of the cake -- cook with the famous chef or just surprise mom with a signed cookbook? then we say what would you like? v operate like a store this so it is in store for experiences that benefit charities and causes and half people go to buy things
with the other half is people calling rory mailing can you do this? >> i want to ask about the financials. the vip experience with iron mike for mike tyson you could have to ringside tickets and said with mike during the event in a one hour private lunch of that 70,000 how much does he get? >> we take a platform fee off the top that is generally 20% then usually the rest goes to the charity or cause chosen by the luminary. they have the ability to keep the money for themselves but on average over 70 percent goes to charity so we made a huge contribution and. melissa: some of the
less-expensive far more friday. former olympic champion will give a personalized twitter shot out for $80. whose charity? a twitter shout out? also get celebrities to follow you? >> it goes back to creating the feeling of connection if you want to offer that and we want to do a for every budget. so if you cannot afford to meet that day and they will sign the set must or maybe they will slide the guitar pick we want everybody to feel the connection. melissa: if you just raised $12 million of people believe in this as a business. thank you for coming. >> you are very nice to have
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a bid from facebook to buy them for $3 billion it is known to be a rival to facebook it has become a social media crazed it allows users to send pictures that said on tediously combust -- spontaneously combust after they are sent. >> and the painter francis bacon the iconic work is called the study said afraid setting a new world record a staggering $142 million of record-breaking price was reached after six minutes of fierce bidding and shattered the old record of $190 million.
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